Global Deal: Xstrata Meets on Glencore Bid

Xstrata CEO Mick Davis, in 2011. He would be the combined firm’s chief for six months under the new plan.

Glencore International PLC’s seven-month quest to seal a merger deal with Xstrata PLC is nearing a climax, with expectations building that Xstrata’s board will endorse Glencore’s latest proposal and pave the way for the creation of a $75 billion mining and commodity-trading colossus.

Xstrata’s board was meeting Thursday to discuss a recently revised deal proposal, and an announcement on a new agreement could come as early as Friday, people familiar with the matter said.

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